Weak China demand outlook weighs on Zinc
28/11/2014 09:13
Zinc futures ended lower in the domestic market on Thursday as investors and speculators exited positions in the industrial metal amid fears that an industrial slowdown in China, the world’s second biggest metals consumer, may crimp zinc demand. Industrial profits in China tumbled the most in two years, down 2.1 per cent in October 2014 from the same month a year ago. However, a surprise rise in economic sentiment in the Euro area signaled a revival in the 18-member economy. The index measuring Euro area economic confidence edged up to 110.8 this month from 100.7 in October. At the MCX, Zinc futures for November 2014 contract closed at Rs. 139.65 per 1 kg, down by 0.46 per cent, after opening at Rs. 140.35, against the previous closing price of Rs. 140.30. It touched an intra-day low of Rs 139.45.
28/11/2014 09:13
Zinc futures ended lower in the domestic market on Thursday as investors and speculators exited positions in the industrial metal amid fears that an industrial slowdown in China, the world’s second biggest metals consumer, may crimp zinc demand. Industrial profits in China tumbled the most in two years, down 2.1 per cent in October 2014 from the same month a year ago. However, a surprise rise in economic sentiment in the Euro area signaled a revival in the 18-member economy. The index measuring Euro area economic confidence edged up to 110.8 this month from 100.7 in October. At the MCX, Zinc futures for November 2014 contract closed at Rs. 139.65 per 1 kg, down by 0.46 per cent, after opening at Rs. 140.35, against the previous closing price of Rs. 140.30. It touched an intra-day low of Rs 139.45.
